Victory CEMP Intl High Dividend Volatility Wtd Index ETF
ALTAR
Score™
9.7% info Recommen-
dation
SPECULATIVE
2020E    2021E
P/E
ratio
10.3x P/Sales
ratio
0.8x
P/BV
ratio
1.1x Div.
yield
6.0%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
The Victory CEMP International High Div Volatility Wtd ETF tracks an index of about 100 developed-market stocks outside the US, screened for positive earnings and high dividend yield, and weighted inversely by volatility.

FUND BASICS
Category International Equities
Fund Sponsor Victory Capital Management
Website www.compassempfunds.com
Inception date Aug 19, 2015
Assets (mns) $80
Currency USD
Expense ratio 45 bp
Distributions Monthly

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian
Weighting Volatility
Index replication
Uses derivatives No
Options available No

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 99
Wgt avg mkt cap (mns) $37,489
Large cap (>$10bn) 92.5%
Mid cap ($2-10bn) 7.5%
Small cap (<$2bn) 0.0%
Developed mkts 97.2%
Emerging mkts 2.8%

TOP TEN HOLDINGS
TELUS CORPORATION 2.2 %
BCE INC. 2.0 %
HONGKONG ELECTRIC HOLDINGS 1.8 %
SHAW COMMUNICATIONS INC-B 1.5 %
PEMBINA PIPELINE CORP 1.5 %
LEGAL & GENERAL GROUP PLC 1.5 %
GREAT-WEST LIFECO INC 1.5 %
ORANGE SA 1.4 %
ENDESA SA 1.4 %
TELIA COMPANY AB 1.4 %
Total 16.1 %

TOP COUNTRY EXPOSURE
BRITAIN 20.2 %
FRANCE 10.4 %
JAPAN 9.9 %
CANADA 9.6 %
AUSTRALIA 8.5 %
SWEDEN 6.2 %
SPAIN 6.1 %
FINLAND 4.9 %
HONG KONG 4.3 %
GERMANY 3.9 %

HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru January 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-4.3% 7.0% -- -- 3.4%

Market Correlations
versus... Beta R-squared
S&P500 0.66 54%
MSCI EAFE 0.93 91%
MSCI Emg. Mkts. 0.66 79%

Technical Indicators
Recent close $30.81
30d moving avg. $33.06
Annualized volatility 10.8%
Short interest (ETF) 0.4%
Relative strength (RSI) 29

Liquidity measures
Avg. volume (thou.) 5
Turnover 0.2%
Bid/Ask (% of price) 0.27%
ADV underlying (mns) $7,028

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Victory CEMP Intl High Dividend Volatility Wtd Index ETF ETF based on the alternatives' overlap in portfolio holdings with CID. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: CID Expense: 45 bp ALTAR Score™: 9.7%


ALTERNATIVE ETFs BASED ON OVERLAP WITH CID
Ticker Fund
Name
Overlap1
vs CID
(%)
Expense
ratio
(bp)
Savings
vs CID
(bp)
ALTAR
Score™
(%)
ALTAR
vs CID
(%)
DOO WisdomTree International Dividend ex-Financials Fund 41.3 58 -13 8.7 -1.0
RIDV Invesco International Ultra Dividend Revenue ETF 36.5 42 3 9.2 -0.5
DTH WisdomTree DEFA Equity Income Fund 36.5 58 -13 9.2 -0.6
IDOG ALPS International Sector Dividend Dogs ETF 34.0 50 -5 8.9 -0.8
EFV iShares MSCI EAFE Value ETF 31.1 39 6 9.6 -0.1
IDY Pacific Global International Equity Income ETF 30.5 39 6 8.8 -0.9
DOL WisdomTree International LargeCap Dividend Fund 30.5 48 -3 8.2 -1.5
LVHI Legg Mason International Low Volatility High Dividend ETF 29.1 40 5 9.1 -0.6
IDHD Invesco S&P Intl Developed High Dividend Low Volatility ETF 28.9 30 15 6.5 -3.2
HDEF Xtrackers MSCI EAFE High Dividend Yield Hedged Equity ETF 27.9 20 25 9.0 -0.7
FGD First Trust Dow Jones Global Select Dividend Index Fund 27.5 58 -13 9.4 -0.4
IDV iShares International Select Dividend ETF 26.6 49 -4 8.4 -1.3
FIDI Fidelity International High Dividend ETF 26.2 39 6 10.4 +0.7
FIVA Fidelity International Value Factor ETF 26.0 39 6 10.3 +0.5
FID First Trust S&P International Dividend Aristocrats ETF 25.9 60 -15 7.4 -2.3
VYMI Vanguard International High Dividend Yield ETF 24.6 32 13 9.7 +0.0
DWM WisdomTree International Equity Fund 24.2 48 -3 8.1 -1.6
DDWM WisdomTree Dynamic Currency Hedged International Equity Fund 24.1 35 10 8.3 -1.5
IVLU iShares Edge MSCI Intl Value Factor ETF 23.8 30 15 11.4 +1.7
HDAW Xtrackers MSCI All World ex US High Dividend Yield Hedged 23.4 20 25 10.3 +0.6

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2015 2016 2017 2018 2019 2020E 2021E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

Content on this tab for subscribers only

VALUATION METRICS
  2019 2020E 2021E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:
Victory CEMP Intl High Dividend Volatility Wtd Index ETF
Relative
to:
S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE

Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 11.1 %
Divided by: Fwd. P/BV 1.1 x
Less: Expense ratio 45 bp
Equals: ALTAR Score 9.7 %
info More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING
1.70 CATEGORY
AVERAGE
1.64
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.